You Started Your First Job After Graduating from College

question 28

Multiple Choice

You started your first job after graduating from college. Your company offers a retirement plan for which the company contributes 50 percent of what you contribute each year. You expect to contribute $4,000 per year from your salary. You decide to invest the contributions in assets that you expect to earn 8 percent per year. If you plan to retire in 35 years, how big will you expect that retirement account to be?

• A) $689,267.21
• B) $823,147.29
• C) $1,033,900.82
• D) $1,308,427.41

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Definitions:

Independent Variables

Variables in an experiment or study that are manipulated or changed to observe their effects on dependent variables.

Dependent Variables

In scientific research, the variable that is being tested and measured, expected to change as a result of manipulations to the independent variable.

Control Variable

In research, a variable that is kept constant to not affect the outcome of an experimental investigation, ensuring that any changes in the dependent variable are due to the independent variable.

Systematically

In a methodical and organized manner, following a system, plan, or order.